July 13: Seven new broker companies have commenced trading in the stock market.

Bhole Ganesh Securities Limited, Capital Max Securities Limited, Himalayan Brokerage Limited, Sun Securities Pvt. Ltd., Miyo Securities Pvt. Ltd., SharePro Securities Pvt. Ltd., and Property Wizard Limited have officially started their operations as members of the Nepal Stock Exchange (NEPSE).

Prior to live trading, these companies conducted test transactions.“All seven new broker companies completed test transactions and had participated in regular trading,” said Krishna Giri, the CEO of Sun Securities Pvt. Ltd. On the first day, the new broker companies conducted a minimal volume of stock trading, according to Giri.

Giri shared that new broker companies have both challenges and opportunities before them. He called for  the cooperation of investors and other stakeholders to overcome the challenges facing them at the moment.

In the first phase, Securities Board of Nepal(SEBON) had granted broker licenses to eight broker companies on May 22. New companies had acquired membership of Nepal Stock Exchange(NEPSE) on July 5. While 18 companies have obtained broker licenses from SEBON so far, 25 companies are still waiting for licenses.

Out of 18 companies that have obtained broker licenses, one company is in the process of merging with an existing broker company. The remaining 10 companies have submitted applications for the membership of the NEPSE.